Friday's trading update from CMC Markets PLC (LSE:CMCX) will compete for attention with a scheduled statement from the beleaguered Ferrexpo PLC (LSE:FXPO).
The former gives an update on trading in 2022 against the backdrop of its share buyback programme.
The trading platform operator’s shares have finally started to recover from last September’s disappointing trading update after the company said at the end of January that both its leveraged and non-leveraged platforms will continue to perform well during 2022.
Both platforms were running at “close to record levels”, according to the chief financial officer, Euan Marshall.
CMC indicated that it was still confident of achieving net operating income within its guidance range of £250mln-£280mln for the year March 31.
Trading platform operators love volatility and with recent events, there has been volatility aplenty so shareholders will be hoping the company put in a good finish to its financial year.
A first-quarter trading update is expected from Ferrexpo PLC (LSE:FXPO) but given the situation in Ukraine, it is possible the statement will not materialise.
The iron ore pellets producer has operations in central Ukraine and has already indicated it is having trouble compiling its results because of the disruption caused by Russia’s invasion of its neighbour.
“We will maintain our current focus on protecting our workforce and local communities, whilst also continuing to contribute to the Ukrainian economy through our production of iron ore pellets. We will look to publish our accounts as soon as the situation in Ukraine permits us to do so," said Jim North, the company’s chief executive officer, last month.
If the company does release production figures, the focus will obviously be on how much of the Swiss company’s projected output was hit by Russia’s invasion of Ukraine.
Significant announcements expected
Trading announcements: CMC Markets PLC (LSE:CMCX), Ferrexpo PLC (LSE:FXPO)
AGMs: Leeds Building Society, Rio Tinto PLC (LSE:RIO)
Economic data: Wholesale Inventories (US)